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Shared Ownership in Harlow

Across England, the Government supports a range of schemes to support affordable home ownership. All official schemes outside London fall under the homebuy brand of government backed affordable home ownership. The most established scheme is shared ownership, otherwise known as part buy part rent but there are also shared equity schemes (e.g. Firstbuy), and rental products, including rent to buy. For more detail on the specific homebuy schemes available in Harlow click on the tabs at the bottom of the page. In addition, at sharetobuy.com there are a range of options open to people wishing to research their affordable housing options:

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To search for shared ownership properties for sale in Harlow, use the search tool on the left hand side of the page or click here to go straight to search results in Harlow. If you cannot find anything that suits your needs at this time we are constantly adding properties and you can register to receive property alerts whenever we do so.

Latest News

The London Home Show is the No1. event for first time buyers in London. The London Home Show is an opportunity to meet the experts and providers of low-cost home ownership schemes in one place, and most importantly, it’s your chance to register an interest in one of the properties on display that could be your first home. And it's FREE to attend.

The London Home Show takes place on the 26th September at the Queen Elizabeth II Conference Centre, Westminster. For more info and to register for a ticket, click below.

The latest Guest Blog from Humphreys & Co. Solicitors looks at the new rules around Pre-emption Provisions which have made it easier to sell for shared ownership lease holders who have staircased to 100%.

Part buy part rent in Harlow

The longest-running affordable home ownership scheme is 'shared ownership', and this is often referred to as 'part buy part rent' because you literally buy part of a property and then pay rent on the remainder. Thus, the product can be seen as literally offering a stepping stone between renting and buying. When you part rent part buy a home, the share can start from as little as 25% and the rent on the remaining share is usually capped at an affordable amount usually in the region of 2.75%. If you consider that availability of mortgages with a 5% deposit has historically been strong in the shared ownership scheme, you can potentially put down just 5% of 25% of the purchase price and as you may often not have to pay the purchase tax known as stamp duty, it makes the total cash you need typically far lower than buying on the open market. Another strong feature of the part buy scheme in Harlow and elsewhere is that there is an established second hand market of part buy part rent homes. Although most properties are available on a new build basis, over time, these properties can be sold on to new buyers and if the owner has not yet bought 100% of the property they can offer their existing share for sale on a second hand basis in a process known as a 'resale'. Search sharetobuy.com for part buy part rent properties in Harlow and across England.

Shared Equity in Harlow

Shared equity schemes are not to be confused with shared ownership (AKA 'part buy part rent'). With shared equity, you purchase ALL of a property but you receive an equity loan for part of the deposit and this can be quite substantial. For example, with the main government backed homebuy shared equity scheme 'Firstbuy', you take out a mortgage for 75% of the property price, putting down just a 5% deposit. The government and builder each lend you 10% on favourable terms as equity loans. Thus, overall, you put down a 5% deposit but can access mortgages broadly as if you were putting down a 25% deposit. On sharetobuy.com, we present Firstbuy and other shared equity properties as if you are buying an 80% share because this is how most customers understand the product and perhaps the most understandable way of explaining it. Nevertheless, unlike part buy schemes where you are only purchase part of a property (usually from a housing association), with shared equity you are technically purchasing the whole property (usually from a developer, though some housing associations do offer Firstbuy and their own equity loan products). Please note that Firstbuy is similar to the Homebuy Direct equity loans product that preceded it, but there is little Homebuy Direct property remaining. Search sharetobuy.com for Firstbuy properties in Harlow and across England, for sale on a shared equity basis.

Harlow is a town in the South East of England in the County of Essex, only 25 miles from London and 12 miles from Stansted airport. Excellent road links to the M11, A10 and M25. Harlow is one of the original new towns designed by world-renowned architect Sir Frederick Gibberd. Harlow is a vibrant multi-cultural community and has a diverse array of local amenities including galleries, museums, parks, gardens and nature reserves. Alternatively, London is within easy reach for shopping, theatre and nightlife.